Egypt economic growth this year seen quicker than government forecast – Reuters poll – Reuters
- Date: 26-Jan-2023
- Source: Reuters
- Sector:Financial Services
- Country:Egypt
Egypt economic growth this year seen quicker than government forecast – Reuters poll – Reuters
CAIRO, Jan 25 (Reuters) - Egypt's economy will grow 4.8% in the current fiscal year, faster than predicted by the government, but will not meet government targets over the medium term, a Reuters poll showed on Wednesday.
The predictions follow the approval last month of a $3 billion financial rescue package from the International Monetary Fund, sought after the war in Ukraine hit tourism, raised commodity prices and prompted foreign investors to pull about $20 billion out of Egypt's financial markets.
Median forecasts in the Jan. 9-24 Reuters poll of 18 economists for the fiscal year ending on June 30 were above the 4.0% growth the government predicted in a Nov. 30 letter of intent to the IMF.
;
Egypt targets 5% economic growth in the next fiscal year budget
The report also stated that Egypt indicated that the government indebtedness rate is targeted to decline to less than 80% of GDP by the end of 2027.
#egypt #gdp
#Egypt : Egypt's #Economic situation is so dire that the government is asking people to eat #chicken #feet.
Amidst a proposed privitization plan from the Egyptian government, the generals are reluctant to give up shares in the companies they control. https://www.lemonde.fr/en/le-monde-africa/article/2023/03/16/egypt-s-military-economic-empire-under-threat_6019536_124.html
Building stronger connections between Denver & Africa, including Ethiopia, is a critical part my administration's work to expand our global reach. It's good to see @SecBlinken taking same approach @ the fed lvl to establish & strengthen these relationships https://denvergov.org/Government/Agencies-Departments-Offices/Agencies-Departments-Offices-Directory/Mayors-Office/News/2023/Mayor-Hancock-to-Lead-Air-Service-and-Economic-Development-Mission-to-Ethiopia-and-Egypt
Traveling to Ethiopia and Niger to discuss shared global and regional priorities. African nations are critical partners in food security, the climate crisis, global health, human rights, and peace. They deserve greater representation in global institutions.
Investors need to be convinced of the government’s full commitment to the gradual withdrawal of the state from the economy, writes the country’s former deputy prime minister.
https://on.ft.com/3JhQfZx
The government of Kenya has a daunting task of lowering the prices of food and fuel. Failure to resolve this economic crisis on time might lead to a revolution just like it happenned in Sri Lanka and Egypt.
Egypt has been undergoing an economic crisis that forced the government to look for new sources of foreign currency https://www.newarab.com/news/egypt-list-two-army-affiliated-companies-investors
"In Budget Talks, Biden Rejects Hard Choices of the Past" by BY JIM TANKERSLEY via NYT New York Times Federal Budget (US), United States Politics and Government, United States Economy, National Debt (US), Economic Conditions and Trends, Corporate Taxes
#EGYPT
#LOVE
#followme…
"As Economy Falters, China’s New Premier Tries to Boost Business Confidence" by BY KEITH BRADSHER AND CHRIS BUCKLEY via NYT New York Times Economic Conditions and Trends, Politics and Government, International Relations
#EGYPT
#LOVE
#followme
#thisis4u
#follow4follow
#likefo…
The @abcc_mea delegation discussed with the Egyptian government its plans to establish a logistics area for grains in the Suez Canal Economic Zone.
https://zurl.co/xULX
#logistics #SuezCanal #Brazil #Egypt
পাকিস্তানের থেকেও খারাপ অবস্থা এই মুসলিম দেশের! নাগরিকত্ব বিক্রি করে দেশোদ্ধারের চেষ্টা সরকারের #News #Bangla #Bengali #WestBengal https://banglahunt.com/egypt-government-tries-out-new-formula-to-tackle-economic-crisis-ss/?UTM=BHT
“Inflation in #Egypt again hit a new high for this year in February, the government said Thursday, with #prices rising most steeply for #food. The country is in the midst of an #economic_crisis and a #currency depreciation.” https://apnews.com/article/ed43b284bb6939582f70203ec366490d
Inflation in #Egypt again hits a new high for this year in February, the government says, with prices rising most steeply for food. The country is in the midst of an economic crisis and a currency depreciation.
https://english.alarabiya.net/News/middle-east/2023/03/09/Egypt-s-inflation-spikes-again-hiking-prices-of-basic-food
CAIRO (AP) — Inflation in Egypt again hit a new high in February (+32.9%), the government said Thursday, with prices rising most steeply for food (+61.5%). The country is in the midst of an economic crisis and a currency depreciation.
https://apnews.com/article/egypt-inflation-prices-economy-elsissi-ed43b284bb6939582f70203ec366490d
"It should search for better ideas to bring in the required dollars"
Though Egypt has eased citizenship terms for foreigners, Talaat Khalil from the Conservative Party has accused the government of lacking creativity in solving Egypt's economic crisis
https://www.middleeasteye.net/news/egypt-citizenship-terms-foreigners-eased-thirsty-dollars?utm_source=twitter&utm_medium=social&utm_campaign=Social_Traffic&utm_content=ap_swhdn0ms2m
The Egyptian government is set to allow foreigners to acquire citizenship provided they buy a real estate property valued at US$300,000, or make a deposit of US$500,000 in an Egyptian bank.
Will this improve Egypt's economic crisis?
https://www.newarab.com/news/egypt-allows-citizenship-foreigners-return-usd
The Egyptian government is likely to devaluate the pound against the US dollar for a fourth time later this month amid an economic crisis that is hitting lower and middle-class households ahead of the holy Muslim month of Ramadan. https://www.newarab.com/news/egypt-devaluate-pound-against-us-dollar-again-march #Egypt
Egypt is offering a 10% stake in Telecom Egypt.
While the IMF hopes that privatisation will make Egypt’s economy more competitive, critics have raised concerns that Cairo is selling off state assets to make up for decades of economic mismanagement
https://bit.ly/3kVKCby
Egypt is offering a 10% stake in state-controlled Telecom Egypt, as the cash-strapped government tries to address a mounting economic crisis
https://bit.ly/3JiEYcK
#StrategicBrief
#Gulf countries halt promised investments in #Egypt, underscoring the country’s tanking economy. We expect the Egyptian government to fully carry out its promised reforms over 2023 as it is becoming increasingly pressed to manage economic challenges.
A projected partial sale of Telecom Egypt reflects the desperate economic dire straits of the nation.
#Egypt offers to sell 10% government stake in Telecom Egypt – sources
https://www.reuters.com/world/africa/egypt-offers-sell-10-government-stake-telecom-egypt-sources-2023-03-06/?taid=6406000027e6b0000147a0e7&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter
#Iraq's Prime Minister Mohammad Shia al-Sudani left #Baghdad for #Cairo this morning, a brief #government press release says.
The premier is slated to meet with the Egyptian President, Abdul-Fattah al-Sisi, for economic and #security talks.
#Iraq🇮🇶
#Egypt🇪🇬
The Egyptian government is likely to devaluate the pound against the US dollar for a fourth time later this month amid an economic crisis that is hitting lower and middle-class households ahead of the Muslim holy month of Ramadan.
http://ow.ly/GjcK50N8oxC
In Egypt, government and poor struggle with troubled economy
https://apnews.com/article/egypt-economic-crisis-inflation-russia-ukraine-war-0bf22bb11d5b7fe2060eac52279b9df3
NEWS: #Egypt plans to implement daylight-saving time starting in April, a move the government says will conserve energy use amid a growing economic crisis https://www.bloomberg.com/news/articles/2023-03-01/egypt-looks-to-reset-clocks-to-save-energy-and-revive-economy?utm_source=website&utm_medium=share&utm_campaign=twitter?sref=neVO5ESD via @bpolitics @TTablawy
Select Sector 
Select Country 
